I read this tip in an article by Cliff Jacobson. He routinely brings a large silk scarf on his northern canoe expeditions. I found a large silk bandana to be a versatile item winter camping. I have used it primarily as a neck warmer when I am sleeping, but it can be fashioned into a hat, a hood, an emergency sling, an ear warmer or any number of items.
A silk bandana is not as absorbent as a cotton bandana, but it is a lot stronger, dries faster, rinses out easier and it does not absorb stains the same way. It scrunches up into a smaller package and silk is 1/3rd the weight. It is far superior to cotton for retaining warmth and keeping you dry. It feels smoother against the skin, and is generally more breathable.